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Originally posted by Maxmars
I'm sorry. I know that many are eager to accept that the bonds were fakes. But really.
500 Million and 1 Billion dollar US bearer bonds are not something you can simply use in business. They were real, and the story is true. The damn elites are once again trying to secure profit out of the destruction of the common economy.
Only banks, financial institutions and government-sized corporations use these bonds.
Originally posted by HunkaHunka
Yep and what better way to sink an economy of a state you want to see drown than to give them counterfeit bonds...
It makes sense to me...
OR in an attempt to dissuade others from buying the real ones because of the threat of confidence that the counterfeits bring...
Originally posted by Nickmare
I want to believe that the Japanese government would have had a better way to get the money where it needed to go. Don't they have a diplomatic pouch or something?
Maybe they didn't feel any other method was available that could prevent the USA from finding out what they were up to? Is it even possible to dump the bonds without the USA knowing?
If it was counterfeiters...how do they scam people into buying these? I mean, I would be pretty damn sure before buying a piece of paper some guy tells me is worth millions and millions of dollars.
Originally posted by mmiichael
There are a dozen ways the Japanese could graduate or proxy a massive cashing in of US bonds. But they would not be stupid enough to put the funds at the bottom of a suitcase. It would be impossible for the US not to know immediately something was going on when a Swiss bank or whoever called to validate them.
"What’s more, the package of bonds was said to include "Kennedy" bonds worth $1 billion each. "There is no such thing as a Kennedy bond," Meyerhardt said. Most important, the total of Treasury paper "bearer" bonds outstanding is a mere $105 million, he said. The Treasury has been issuing bonds solely in electronic form since 1986, although a relative handful of investors never bothered to convert their bearer bonds to electronic form."
On June 4, 1963, John F Kennedy signed Executive Order No. 11110. This gave the U.S. Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. This gave the U.S. government back its power to issue currency, while stripping the Federal Reserve's power to loan money to the government at interest. If enough of those silver certificates were to come into circulation they would have eliminated the demand for Federal Reserve notes. Executive Order No. 11110 is still valid.
Speculation about the Italian smuggling case involving $134 billion in purported U.S. Treasury bonds may have been fun while it lasted, but the Treasury Department says today the bonds are bogus.
"They’re obvious fakes," said Steve Meyerhardt, a spokesman for the Treasury's Bureau of Public Debt in Washington.
Two Japanese men were detained by Italian authorities last week after they were caught trying to enter Switzerland with what appeared to be $134 billion in U.S. Treasury bonds in a suitcase.
"What’s more, the package of bonds was said to include "Kennedy" bonds worth $1 billion each. "There is no such thing as a Kennedy bond," Meyerhardt said.
Most important, the total of Treasury paper "bearer" bonds outstanding is a mere $105 million, he said. The Treasury has been issuing bonds solely in electronic form since 1986, although a relative handful of investors never bothered to convert their bearer bonds to electronic form."